int. of late payment
This query is : Resolved
07 August 2010
sir int. of late payment of tds.supoose i want to deposit it date 9. than sir how much int. add in my amt.
ex. my tds for the month of july 5000, than sir plz tell me how much int. in my amt.
regards
rajiv
ex. my tds for the month of july 5000, than sir plz tell me how much int. in my amt.
regards
rajiv
07 August 2010
you need to calculate the interest rate @ 1.50 permonth or part of month from the date of deduction to date of payment so you need to calculate 1.50% interest if you paid 9th instead of 7th
07 August 2010
As you have deducted tax but failed to deposit it within the due date, you have to pay interest @ 1.5% per month for delay in remittance.
Interest will be Rs. 5,000 X 1.5% = Rs. 75.
Interest will be Rs. 5,000 X 1.5% = Rs. 75.
07 August 2010
Dear Ramesh Ji,
TDS deducted in month of july.
Deposited on 9th august.
As per law interest rate @ 1.50 per month or part of month from the date of deduction to date of payment. So why TDS should not be calculated for 2 months i.e. 1.5% for July and 1.5% for august.
Please clarify.
TDS deducted in month of july.
Deposited on 9th august.
As per law interest rate @ 1.50 per month or part of month from the date of deduction to date of payment. So why TDS should not be calculated for 2 months i.e. 1.5% for July and 1.5% for august.
Please clarify.
07 August 2010
yes.Mr.Sanjay you are correct, thanks for correction
Message likes :
1 times
07 August 2010
Agreed...Thanks for the correction Mr. Sanjay.
While calculating period for interest on late deposit of TDS, period prescribed for making payment to the credit of Central government is not to be excluded.
While calculating period for interest on late deposit of TDS, period prescribed for making payment to the credit of Central government is not to be excluded.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
